TeamSupport provides tools for mortgage agencies to stay on top of their most important customer relationships. This web-based system provides tools for increasing collaboration, tracking interactions and managing productivity.
Act-on is an ideal choice for handling the CRM needs of medium to large organizations. It handles email and social media marketing, website visitor tracking as well as all traditional lead management requirements.
Mortgage companies will find a wealth of industry-specific features with Salesforce.com, such as quantifying the value of purchased sales leads. The solution also integrates with many loan origination systems and related programs.
Mortgage companies use Silverpop to optimize their marketing automation and email marketing operations. This web-based system includes lead scoring & nurturing functions as well as marketing analytics.
GoldMine CRM helps meet the needs of mortgage professionals with contact management, sales automation and scheduling. By automating these tasks, mortgage companies can better track leads and close more sales.
With Oracle Eloqua, mortgage companies can target the right buyer and deliver professional, incredibly effective email marketing campaigns. The tool offers lead scoring & nurturing, tradeshow management and marketing analytics.
Mortgage professionals need an automated solution for collecting, distributing and managing leads. LeadMaster offers an industry-specific solution for mortgage companies to help them track incoming leads and closed deals.
Zendesk is a leading customer relationship management tool that ensures your mortgage agency stays on top of its interactions, contacts and productivity. This cloud-based system also offers custom reporting and analytics.
We needed to expand our email marketing strategies with a marketing automation SAS platform since we have limited in house resources. SofwareAdvice is a great starting point when researching available options to expand or augment solutions for any business.”
- Shawn Kelloway Inbound Logistics
My CIO asked me to research CRM companies - SoftwareAdvice was an easy and efficient way to evaluate a spectrum of different software vendors in one phone call.”
- Sara Sommers Baptist Health System
Morris at Software Advice was very helpful in determining what we needed and sending me a list of the software platforms that my company should look at. He also had the vendors reach out to me.”
Mortgage customer relationship management (CRM) software is designed to help mortgage professionals run their front-end operations. The subprime mortgage crisis is anything but a distant memory. Delinquencies and foreclosures are still common occurrences, and mortgage lenders have realized the importance of focusing on the customer acquisition and management lifecycle as a means of recovery. In particular, lenders and loan officers must overcome the hurdles of keeping detailed client notes and maintaining timely client follow-up. They require proper contact management coupled with loan pipeline management in order to stay in control of their business. On top of client retention, mortgage lenders also need to grow and expand their operation in a highly competitive market.
Mortgage CRM software often includes applications for contact management, so that lenders can organize client data into one, easily accessible location. However, if the tool is specific to the mortgage industry, it will also include additional key features:
Loan Pipeline Management
Mortgage CRM software should tie in with existing loan-originating software (LOS) systems to improve loan pipeline management. This integration allows lenders to view loan reports on-demand, track loans as they go through the LOS, and synchronize important data such as loan status values and 1003 application data. With a few clicks, the lender can access contact information, loan information, email and phone call history.
Referral Partner Marketing
In a highly competitive market, mortgage companies can benefit greatly from a program that facilitates drip marketing campaigns and campaign tracking to send targeted messages to clients and referral partners. Tracking these campaigns helps lenders know how to cultivate and reward client and partner loyalty.
Mortgage Event Alerts
There should also be tools for notes and alerts that remind the lender of important upcoming events, such as which clients want to refinance several weeks or months in the future. Some systems also have a news update application that provides the most up-to-date information, such as increased annual premiums or changes in upfront mortgage insurance rates (UFMIP).
With the current instability in the market, it is even more important for lenders to stay abreast of new regulations and compliance issues in their industry. Integrated compliance modules are available in some products to help ensure that business operations are in line with regulations enforced by organizations such as the Federal Housing Administration (FHA).
Evaluating Mortgage CRM Software
Mortgage accounting software can automate many of the day-to-day marketing and loan processing, facilitating marketing efforts and increasing accuracy and customer service. When selecting mortgage CRM software, ask the following questions:
Does the software integrate seamlessly with your existing LOS system for end-to-end loan visibility?
Does the software integrate with other existing legacy systems such as ERP or accounting?
Does your organization require a web-based customer portal so customers can access loan applications and information online?
Does your organization require capabilities for multi-channel marketing (i.e. email, phone, direct, etc.)?